Crypto Investors Face Delays In Withdrawing Funds

  • Cryptocurrency investors are facing delays to withdraw funds deposited on the Ethereum blockchain after its major software upgrade, highlighting persistent headaches for Ethereum which aims to have the technology widely used for instant payments.
  • The software upgrade, known as “Shapella,” was set to unlock more than $30 billion worth of ether, the second-biggest cryptocurrency, which investors had deposited on the Ethereum blockchain in return for interest.
  • Until Wednesday’s upgrade, investors could not withdraw funds they had deposited via this method, known as “staking,” on the Ethereum blockchain.
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